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1MDB controversy threatens PM

The fund reportedly paid an inflated price for assets acquired from a Malaysian company. This company then made donations to Najib-led charity which spent money on schools and projects.

These concerns have led to a confrontation between Najib and his mentor, Mahathir Mohammad who publicly asked for Najib's resignation.

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2 Jul 2015

Money channelled to PM's bank account?

Wall Street Journal reported that Malaysian investigators had traced nearly $700 million of deposits into the personal bank accounts of Malaysia's Prime Minister Najib Razak, according to documents from a government probe.

This was the first time PM Najib was directly connected to the probes into 1MDB.

The investigation did not detail what happened to the money that went into Najib's accounts.

Contribution of the blog - Sarawak Report

Sarawak Report, a blog ran several reports about 1MDB's business dealings. Together with London’s Sunday Times newspaper, Sarawak Report completed an in-depth investigation into the trail of the missing billions at the heart of Malaysia’s 1MDB financial scandal.

7 Jul 2015

Malaysian authorities freeze 6 bank accounts

A special task force investigating the scandal said it had frozen 6 bank accounts following WSJ's report. It did not specify the banks involved or the names of the account holders though.

According to sources, 3 of the accounts belong to Najib.

Task force also seized documents related to 17 accounts from 2 banks.

Najib who refuted the allegations, was considering legal action.

27 Jul 2015

WSJ stands by its reports on 1MDB expose

Dow & Jones Company, the publisher of 'The Wall Street Journal' said that they have responded to the request of clarification from PM Najib Razak's lawyers.

The publisher said that they would continue to stand by the accuracy of their reports.

The firm was given 14 days to respond to lawyers' letter seeking clarification on WSJ's accusation against Najib, linking him to 1MDB scandal.